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What you should know before you start?

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    What you should know before you start?

    If you are just starting your trading path, there are some short advices that can significantly accelerate your learning curve. Some of those thoughts may seem obvious to you, but that's what trading is:

    1. Use simple approach.

    Whatever market you trade, avoid complicated methods - make it as simple as it can be. There's no hidden truth there, price is often the only thing you need.

    In analysis, we don't have much time to stare at the charts, we need to keep it simple (yet it's not easy) and be able to find preferred setup in 3-5 minutes. This is only achievable when we have limited set of tools and know exactly why do we use them. Too much analysis is not useful, no analysis is also harmful.


    2. Journal your observations, not other people's theories

    The essential of success is keeping a journal, which will later give you confidence. You will have much better understanding of price action journaling and observing than simply following somebody's opinions.

    Don't believe anybody blindly - test, test and test again. Do more what works in current market conditions and do less what not works.


    3. Know your "pain point"

    Know amount of money you can afford to lose in a single trade and in trading in whole. Remember - statistics is not on your side when you start trading. Chances are pretty high that you will struggle for some time before gaining experience and obtaining good trading skills.

    #2
    Your suggestion will be very helpful for the beginners in forex market. First of all we should think simply. Beginners should not make their thinking complicated. They should observe the market movement and try to analyze the movement without influence of others. Finally we must be conscious about the loss may happen and be prepared to response what loss.

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      #3
      You re most welcome for your suggestion. Every newcomer should proper learn about this market and think it easily. Learning is the main key for them and try to attain knowledge about Forex. And also understand that most of newbie trader are loser in Forex, so be prepare themselves that you also victim of this in initial time.

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        #4
        Your suggestion is welcomed by the biggener. One should not think complicated about forex trading. At first he have to learn more about forex market. We must remember that lose is the regular part for a new trader. If you became frastated, you would not be able to be a successful trader. Don’t be influenced by anyone. Take your own suggestion. Learn more and more about forex. Find out the problems you have faced in past and take steps according to that.

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          #5
          You advice will be helpful for the beginners in forex market. Beginners in forex market should consider your advice at the time of trading in forex market. Beginners should not use any complicated strategy that can make problem for them, as they do not have much experience of trading. They also must record there every trade so that they can analyze their every trade.

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